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A major Conservative Party donor has said he will not give money to the party again because of David Cameron’s “arrogant Old Etonian” style of leadership.

Millionaire Sir Tom Cowie told the Guardian he is “very, very disappointed” with the Tory leader.

He is highly critical of Mr Cameron’s decision to visit Rwanda while his Oxfordshire constituents were suffering from flooding and the row over ending support for grammar schools.

The entrepreneur has reportedly donated more than £630,000 to the party since 2001 and gave more than £500,000 towards its 2005 general election campaign.

In response to a question about the present state of the Conservatives he told the newspaper: “Are you sure you don’t want to hear foul language? … All I can say is I am very, very disappointed with the state of the party. I will not mince my words: I shan’t send them any more money.”

Sir Tom, 84, said he would instead donate money to one of the Prince of Wales’ charities, the Prince’s Trust, which helps disadvantaged young people set up their own businesses.

He blames part of the reason for ditching grammar schools on the privileged educational background of Mr Cameron and many of his close friends who run the party.

He told the newspaper: “The Tory party seems to be run now by Old Etonians and they don’t seem to understand how other people live. They seem to be very arrogant like I suppose Old Etonians can be. They certainly don’t understand about grammar schools.”

However Sir Tom says he will not be switching his allegiance to Labour.

The businessman took over his father’s bicycle repair business in 1948 and built it up into transport firm Arriva. He is a former chairman of Sunderland Football Club and a supporter of education, having donated money to the University of Sunderland, which named one of its campuses after him.